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Significant Transactions | 12 Months Ended
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Dec. 31, 2023
Significant Transactions [Abstract] |
SIGNIFICANT TRANSACTIONS | NOTE 10:- SIGNIFICANT TRANSACTIONS
| 1. | On April 18, 2023, the Company sold 100% of its membership interest in Luna Squares Texas LLC, a Delaware limited liability company, which held rights to 4 greenfield leases in Midland, TX, as well as related contracts. The sale price was $3.0 million in cash and $5.50 million in stablecoins. In addition, the Company sold 59 transformers which were earmarked for these Texas sites. The net profit recognized on the sale of the site amounted to $3.35 million.
| 2. | During the year ended December 31, 2023, there was an impairment recognized on our equity method investment in TDI of $1.84 million. The impairment was recognized on the basis of TDI’s updates and its strategic direction, including changing from becoming a bitcoin miner to mine copper and gold and therefore the value of the company was deemed much lower than our investment value.
| 3. | October 30, 2023, the directors of Mawson AU appointed voluntary administrators to that company. For these reasons, it was concluded that the Company had lost control of Mawson AU, and no longer had significant influence over Mawson AU while the Administrators were in control of the company. The net impact of the deconsolidation on the consolidated statement of operations was a net gain on deconsolidation of $9.47 million. See Note 3 Subsidiary Deconsolidation for further discussion.
| 4. | On October 12, 2023, Mawson Hosting, LLC (the “Service Provider”), and a wholly-owned subsidiary of Consensus Technology Group LLC, Consensus Colocation PA LLC (the “Customer”), executed a Service Framework Agreement for the provision of certain co-location services (the “Agreement”). In accordance with the terms of the Agreement, Service Provider will provide Customer with co-location services for approximately 50MW at Service Provider’s Midland PA site. The Agreement provides for Service Provider to provide co-location services to Customer for 12 months and the parties can extend further upon mutual agreement. Customer will provide 15,876 new bitcoin mining servers. Customer has agreed to provide a cash deposit and power prepayments based on estimated power usage. Service Provider will pass through power costs to the Customer, which will be fixed for 10 months of the year, and at market prices for the remainder of the year.

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